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Insured Value

Insured Value = C (cargo value) + 10%

Premium

Premium is calculated on insured value (C+10%) and the rating varies according to the type of cargo, voyage and the season of the trip.

Premium Rate

NoMarine Cargo (Inland)Premium Rate (TLO)
(1)General CargoInland Waterway0.14%
Coastal (Summer)0.28%
Coastal (Monsoon)0.56%
(2)Dangerous Cargo (Petrol, Diesel, Gas, etc…)Inland Waterway0.28%
Coastal (Summer)0.42%
Coastal (Monsoon)0.84%
*Additional Cover (Port Overdue Fee)10% of Basic Premium

The monsoon period starts from May 1 to October 15 every year.